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- On 1 January 2015, XYZ Company bought an automobile worth $10,000. The automobile has a useful life of 5 years and residual value of

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- On 1 January 2015, XYZ Company bought an automobile worth $10,000. The automobile has a useful life of 5 years and residual value of $1,000. - Exam.-12 - Assume that XYZ Company use the sum-of-life the years'-digits method for depreciation. What amount is the depreciation expense of the automobile for the year ended 31 December 2016

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